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When this company opens a new store, the event draws thousands and its most recent shareholder meeting has become quite the sensation, too, drawing record attendance.

The stock has been on a tear since 2011 on fears that an Obama re-election would promote action on gun legislation. Since the re-election, gun stocks as well as Cabelas Inc (NYSE:CAB)’s have risen with Cabelas Inc (NYSE:CAB)’s up 84.25% over 52 weeks. It isn’t trading at the low P/Es of yore but the forward P/E is only 16.68 with a PEG of 1.12. Even with this astonishing share price appreciation, insiders are still buying, like Board member Reuben Mark who bought 5,000 shares less than a month ago at an average price of $67.65.

The company has some strategic initiatives including its Outpost stores which are half the size of the flagship destination stores. Their Outpost stores make $550 per square foot compared to the huge legacy stores, and are easier to put up as the company expands to more than its 225 stores in the U.S. and Canada. CEO Milner said they will open 10-12 new stores per year.

The company also does a brisk catalog and internet business as well with its private brands with their significantly higher margins.

Off road hi-jinks

Finally, there’s Arctic Cat Inc (NASDAQ:ACAT), the snowmobile and ATV maker, which, at a market cap of $603 million, is much smaller than its main competitor, Polaris Industries Inc. (NYSE:PII). Arctic Cat Inc (NASDAQ:ACAT) has half the yield at 0.90% of Polaris’ 1.80%, but its growth outlook is brighter. It looks undervalued here with a PEG of 0.44 and a trailing P/E of 15.82 and a forward P/E of 12.66.

Its Board reinstated the quarterly cash divided on May 15 and announced a share repurchase worth $30 million. This double vote of confidence should hearten investors on the fence about a lightly covered small cap name.

Its snowmobiles in the winter and ATVs the rest of the year are a popular part of the outdoor sportsman lifestyle. Analysts give the name a five year 20% EPS growth rate compared to a 16.67% rate for rival Polaris.

Trophy time

Which of these you put in your portfolio with pride of place depends on what you’re trying to bag: elusive small cap grower like Arctic Cat Inc (NASDAQ:ACAT), lumbering (pun intended) big cap REIT that is Plum Creek Timber Co. Inc. (NYSE:PCL), nimble but dangerous Sturm, Ruger & Company (NYSE:RGR) with its high short interest, or ever more popular trophy, Cabelas Inc (NYSE:CAB)’s, with its loyal customers. Just be careful out there, buy on dips, and don’t shoot your eye out.

AnnaLisa Kraft has no position in any stocks mentioned. The Motley Fool owns shares of Arctic Cat and Sturm, Ruger & Company. AnnaLisa is a member of The Motley Fool Blog Network — entries represent the personal opinion of the blogger and are not formally edited.